Deal Insight
CNOOC acquires a stake in Chesapeake's Niobrara acreage
This report is currently unavailable
Report summary
CNOOC Ltd. has entered into an agreement with Chesapeake to acquire a 33.3% interest in the company's Niobrara Shale acreage. The transaction follows the Eagle Ford JV between the companies announced in October 2010. As in the earlier deal, CNOOC will pay Chesapeake an up front sum, in addition to a cost carry. The total consideration is US$1,267 million (nominal). We value the deal at an Implied Long-term oil Price of US$82/bbl (NPV10, in 2011 terms). Unit metrics equate to an ...
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Niobrara Shale
-
Deal analysis
- Valuation methodology
- Upsides and risks
-
Strategic rationale
- CNOOC Ltd
- Chesapeake
- Oil & gas pricing and assumptions
Tables and charts
This report includes 9 images and tables including:
- Executive summary: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Deal analysis: Table 3
- Implied Long-term Oil Price sensitivity to ultimate recovery
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Vicinity map of acquired assets
- Upstream assets: Table 1
What's included
This report contains:
Other reports you may be interested in
Insight
Global upstream M&A in brief
The global upstream M&A in brief provides the Wood Mackenzie view on all of the key M&A events as they unfold.
$1,350
Asset Report
Snow Lake gold (closed) mine
A detailed analysis of the Snow Lake gold (closed) mine.
$2,250
Asset Report
Repsol Canada Alberta
In 1992, BP sold its 57% stake in BP Canada, establishing Talisman as one of the largest independent Canadian oil and gas companies. In ...
$3,100
